Summarizing this Month

Posted by Deb | Day Trading Journey | Thursday 28 February 2013 11:57 pm

For those wondering, I did achieve my minimal expectations for this month. I did stay even, actually I did a bit better: I got a net profit of $100. Not much, but it is something for a start.

I haven’t had much time to trade this month.  Monday was Purim, a happy holiday with lots of activities and no time for trade. Tuesday I did some trading (making 1 pips over 2 contracts, so it was actually a small loss due to the fees), and Wednesday I again was not able to trade: The electricity in my house went down, leaving me without my pc and with no internet. Very annoying.

Today I had some time to trade, and did better. I identified a nice resistance line and put a limit order there, but just when the market was getting there my kids needed a ride to the movies. I debated with myself if I should leave the order and let the position manage itself, but decided against it. Of course, when I came back I found I could have left it, it would have made me over $100.

By that time the market was going down but I was not sure enough about were to enter. Finally I entered on one contract and made 5 pips – $62.5.

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Updating My Expectations

Posted by Deb | Day Trading Journey | Friday 22 February 2013 2:44 am

I returned to trading with big hopes, but tried not to jump forward too quickly. I renewed my trading account on December of last year, and started trading on the demo. I tried a few times to do live trading, but lost, so I went back to the demo and continued with that till the end of January.

During January I again did a few live trading positions, and had better results than on December: a few gains, one bigger loss, so on the end of the month was a little bit smaller than on its start, but not with a big difference.

This month I started live trading. I didn’t want to have too much expectations, so I told myself I will be content with a little profit every day. I hoped I will have an average of $30 per day so that on the end of the month I will be $600 richer.

It started good. I was making nice small profits, following my plan, but then on Thursday I didn’t quit my position quickly enough when the market was going against me, and lost about $150. I told myself this was expected, and updated my expectations to be $200-$300 profit for this month, so that my account will be back where it was on December.

Friday I made a very small profit. Monday was Presidents day, and Tuesday and Wednesday went well. Than came today.

I opened the trading platform and saw the market hurrying down, though it seemed to be towards the end of the dive. I tried to refrain from going in, telling myself it is stupid to jump when I do not know how far more the dive will go, but finally I couldn’t wait and jumped in.

Of course, just then the diving stopped. The market went up and I quickly quit with a small loss. Then I tried again, lost more, and by mistake pressed for another buy which I immediately sold out.

Finally some time later the market went down. Had I waited I would have made a nice profit, but of course I had no way to know.

My lesson is of course I have to keep my discipline. This is so hard!

Anyway I had to update my expectations again. This month I will be happy if I stay even.

 

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My Update

Posted by Deb | Day Trading Journey | Thursday 7 February 2013 5:56 pm

It’s been a while since I’ve updated here. Last time I was trading I gave here an update almost every day, now for some reason I feel more shy of it.

Anyway, I have been trading, mostly on the demo, almost every business day in the last few weeks. I feel still unsure of myself, thus my profits are low, but except of a few days – one of them with quite a big loss on the demo, on a day I was not following my own rules –  I have been make profits.

I made a few more live trades, and they were also not bad. I am steadily regaining confidence. Today was annoying: I knew I was closing the trade too early, but I have been enough in the position and wanted to get out already. I made $75 over 2 contracts.

I have also started trading live on eToro, on which I have written here some time ago. I decided I have nothing to lose: On the demo I made about 12% in a few months without doing anything: When I first signed I copied a few of the traders, and than left it there without doing any checking or initiating any positions myself. It’s a better revenue than any other savings account in my bank, so I put some money there. Not much, but if live trading proves to be fruitful enough I will probably move there more money from my savings.

eToro currently have a nice promotion: You get a $20 gift cards to start trading if you join through the link of this banner here:

 

Now’s the time to try out eToro – the most user-friendly forex platform online.

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A Real Thriller

Posted by Deb | Day Trading Journey | Wednesday 16 January 2013 8:11 pm

I have been trading on the demo for the last few days, never losing, always making a very small profit. I decided I should wait until I make more on the demo before I get back to live trading, as I have to gain more confidence. I was thinking this morning that maybe when I see I am making bigger profits on the demo I could go back to live trading and make there small profits, or at least not loose money.

As usual, I started trading today on the demo. The entered with one position, than added two more. The graphs were clearly indicating the market would be going down, so I waited confidently until it did, and finally made a bigger profit: $125 on 3 contracts!

At this point I decided to try a small live trading. The graphs still indicated the market will be going down, and I wanted to try. I was anxious, not knowing what I should do, but driven to open the live trading.

I entered with one contract, added one more, and waited. And waited. And waited. The market was struggling with no end. I was biting my fingers, praying, cursing and blessing myself for going live, and waiting anxiously. The market was going up – against me – but I decided that today I will be confident in myself. So I waited and waited, and – voila! Tha market went down. It didn’t go down much, but finally I quit with a small profit of $37.5 on 2 contracts.  A small profit, but a good start.

I do not feel ready yet for real live trading. I hope I will have the strength to avoid this temptation a bit longer. I should first have more positive experience and confidence on the demo before going live. My adrenalin is still high, my heart rate is still high, I need to be less anxious. Anyway, today was a good boost.

 

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Another Good Trading Day on the Demo

Posted by Deb | Day Trading Journey | Monday 14 January 2013 10:25 pm

Today was a very smooth trading day: I opened the trading platform and charts, realized the market is about to go up, and entered quickly on 2 contracts. The market went up immediately, a few minutes of hesitation on the first 2 pips and then the first take-profit point was caught after 3 pips.

A few minutes later the market was up again, and when it hesitated more I brought down the other take-profit and exited the position with $75 on 2 contracts.

Why is it so easy only when I am on the demo?

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Good On Demo

Posted by Deb | Day Trading Journey | Thursday 10 January 2013 8:46 pm

As always, it is frustrating to see I make money on demo, but when I go on live I fail. Though today, I saw why I should stay for a while on the demo – I don’t have yet the assurance and conviction needed to wait on a good position.

I traded today on the demo only. When I opened the graph I saw a good opportunity for a short position. I didn’t jump in, checking first that indeed the market has not dived the full potential of the current downward direction, and then opened a position on short with one contract, but putting an order for 2 more contracts a bit higher.

The market was very hesitant, and after a while the 2 additional contracts were caught. But it still didn’t go down. It was going up and down, drawing a stairway-like graph.

Stairway Type Graph

After a while I decided to add 2 more contracts to average it out and get out of the position quicker. But this was not enough. The market went up again. But I was sure it will go down.

5 minutes later, the market went down. It was still jumpy, going through the stairway as in the graph, (or maybe I should call it going-down-on-waves?). I finally quit on 2 contracts, than added 2 higher, and finally quit the position with a profit of $75, which is not much for the number of contracts I put in.

Surely enough, in the next few minutes the market went further down, making my potential profit much higher.

What did I learn from that? That I should be more sure of myself. Even on the demo I wasn’t sure enough to wait through. With live trade I would have probably quit earlier, maybe with a loss.

 

 

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What Brings You Here?

Posted by Deb | Uncategorized | Wednesday 9 January 2013 6:44 pm

My Survey:

My blog has lots of visitors (hundreds every day), but most of them don't leave any comment. Most of the comments I get are from spammers or SEO people who are trying to get traffic for their own sites. I am getting curious: Who are my visitors? I would love hearing more from them. In order to have a better understanding of who is stopping by, I decided to create this quiz. Please take a minute to answer.
  • Step 1
  I an experienced trader interested in reading about this subject I am a beginning trader looking for information and advice SEO - looking for a blog to publish my articles SEO - looking for a place to put in comments with my link I found here an article or post not related to trading that interested me Some other reason (I'd love to hear it)
What brings me to this blog?
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